Bringing Open Enrollment into the 21st century
One thing that is sure to have employers and employees singing the same tune is a mutual disdain for the open enrollment period. It's a confusing process for workers and a laborious task for even the most efficient companies. If you're one of those HR professionals reluctantly preparing to be knee-deep in documents, perhaps it’s time to look at other options. Before you print and compile enough forms to wipe out half of Redwood National Park why not consider a more efficient and user-friendly option. Technology based enrollment isn’t just environmentally friendly – it will also save time, money and perhaps your sanity.
Benefits of Technology-Based Enrollment
- Every step of the benefits management process is automated, eliminating the need for paper-based processes and improving efficiency and accuracy.
- Online enrollment lowers the cost of providing services to your employees by eliminating the costs of distributing and collecting paper enrollment packets.
- Online enrollment is more time efficient.
- Online enrollment allows employees to self-enroll in benefit programs- giving them autonomy while saving you time.
- Employees can easily choose plans based on eligibility criteria and can compare and contrast costs and coverage of different options.
- Elections can be automatically applied to employee records.
- Employees receive written confirmations detailing their choices.
- Employees can easily view and update their records and plans.
- HR can check the status of enrollment in real-time and be able to generate detailed reports regarding the cost of employee benefits.
Disadvantages of Technology-Based Enrollment
- Employees could be intimidated by the software and might want personal assistance rather than making elections via a computer.
- Employees might not make informed benefit decisions if they are only advised via the computer and aren't provided personalized recommendations or counseling.
Introduce the new enrollment software and train employees before open enrollment begins. Provide support for anyone who is struggling with the new system and make sure someone is available to answer any questions they may have. Promote open enrollment through various mediums to make sure that employees know what's going on during the process. Encourage management to promote the software to increase employee buy-in and create an online platform where employees can discuss any concerns and problems they may have.
In a world where many of us already manage our car insurance, personal banking and even our grocery shopping online it makes sense to bring your company up to speed. As long as employees are well prepped and supported then the transition should be straightforward and stress-free.
Contact Lumity to learn more about our technology-based open enrollment and how our benefits consultants can help your employees better understand their benefits program and process.